SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson Sells 9,290 Shares

SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the sale, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SPS Commerce Price Performance

NASDAQ SPSC traded down $4.65 on Monday, hitting $180.03. The company had a trading volume of 216,030 shares, compared to its average volume of 211,773. The company has a market capitalization of $6.76 billion, a PE ratio of 86.14 and a beta of 0.88. The company’s fifty day moving average price is $189.93 and its 200-day moving average price is $191.02. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPSC. Robert W. Baird boosted their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Stifel Nicolaus cut their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Piper Sandler initiated coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Wednesday, January 15th. Finally, Citigroup lowered their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $219.22.

Institutional Investors Weigh In On SPS Commerce

A number of hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of SPS Commerce by 94.5% during the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after purchasing an additional 210,284 shares in the last quarter. FMR LLC lifted its position in shares of SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after purchasing an additional 104,769 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of SPS Commerce by 69.4% during the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of SPS Commerce during the third quarter worth about $17,128,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of SPS Commerce by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 186,344 shares of the software maker’s stock worth $34,285,000 after purchasing an additional 69,029 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.